BSGR Guinea focuses on its prime iron concessions in the Simandou Range in the eastern part of Guinea.
BSGR Guinea is committed to play a major role in developing the huge potential of this significant asset and create substantial employment, income and major improvement in infrastructure for the people of Guinea.
denies all the allegations, saying in a press release, "The Guinean government is relying on fabricated claims, compromised witnesses and illegitimate processes to justify President Alpha Conde's carefully orchestrated plan to reward political allies.
ICSID's registration of the Request for Arbitration formally starts the proceedings between BSGR and the Republic of Guinea and is the next significant step in the restitution of BSGR's mining titles that were rescinded by the Government of Guinea on the 24 April 2014.
The action will for the first time allow BSGR to address in an impartial court the allegations of wrongdoing that have been brought against the Company by the Government of Guinea.
, Powerscourt, +44(0)20-7250-1446, Rory Godson / Ian Middleton / Conal Walsh, bsg@powerscourt-group.
In all of these countries BSGR operates in a fully transparent manner, working in partnership with host governments at both national and local level.
Allegations that there was anything improper about the manner in which BSGR obtained its mining rights in Guinea are entirely baseless and motivated by an ongoing campaign to seize the assets of BSGR.
The High Court claim by BSGR and Mr Steinmetz states that its investigation showed that Mr Soros and NGOs associated with him were parties in a smear campaign against BSGR.
A spokesman for BSGR said: "It is incredible that Global Witness, which described itself as a human rights organisation, refuses to provide Mr Steinmetz with personal information it holds on him.
In February 2012, the Guinean Minister of Mines after having made similar allegations, subsequently recanted and wrote to BSGR to apologise.
The Simandou project is a world-class iron ore asset, discovered and developed by BSGR from exploration through to full mining licence through investing $160 million prior to establishing its joint venture with Vale S.